Billionaire physician Patrick Soon-Shiong buys Los Angeles Times

An internal investigation by Tronc of alleged workplace sexual misconduct by new Los Angeles Times Publisher and CEO Ross Levinsohn has found no wrongdoing. Levinsohn has been appointed to a new high-level position by the company

The move was revealed by Tronc shortly after it announced it has entered into an agreement to sell its California Newspaper Group - which includes the LA Times, the San Diego Union Tribune and smaller weekly papers - to billionaire Dr. Patrick Soon-Shiong for $500 million.

The Los Angeles Times' owner has, the paper confirmed Wednesday.

Soon-Shiong, founder and chief executive of the California-based health care firm NantHealth, has previously been critical of Tronc's leadership, accusing the company of " a year ago.

After the latest deal, Tronc will still own some prominent media titles, including the Chicago Tribune, the New York Daily News, the Baltimore Sun and the Orlando Sentinel.

Also, journalists voted last month to unionize for the first time in the paper's 136-year history. Tronc said Wednesday he was cleared of any wrongdoing.

Doug Manchester, a previous owner of the Union-Tribune, used the newspaper to tout a conservative political agenda and views on local issues, like his proposal for a new downtown convention center and stadium for the NFL's Chargers.

As news spread of a potential sale Tuesday, cheering erupted in the Times newsroom. Jeff Bezos acquired the Washington Post in 2013, and John Henry agreed to buy the Boston Globe the same year.

"Here's the difference: The ownership today does not promise lucrative returns. Today it's a thinner margin, and it gets thinner every day".

In a note to staff at the publications‚ quoted by the Los Angeles Times‚ Soon-Shiong wrote: "It is often said that Southern California is the place where the world comes to see its future". "My goal is to try and preserve the integrity and the viability of the newspaper". D'Vorkin had pushed the theory that media has to embrace new ideas to survive in a digital world. It said it is buying a majority stake in online product review company BestReviews for an undisclosed amount.

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